Samsung expects sales boost

Manufacturer releases earnings estimates to ease market speculation on its performance

Samsung is expecting a rise in quarterly sales

In an attempt to reduce market speculation, electronics giant Samsung announced quarterly earnings estimates for the first time and said it expects a sales increase for the period.

The firm foresees consolidated sales of $24.46bn (£15.8bn) to $26 bn (£16bn) for the quarter, up from $22.96 bn (£14.1bn) a year ago.

Operating profit is predicted to reach $1.74bn (£1.07bn) to $2.05 bn (£1.26bn) – in line with the $1.89bn (£1.16bn) reported a year ago.

Samsung does not release quarterly consolidated net profit figures, and therefore provided no estimates for that.

The South Korean company, also the second-largest maker of mobile phones after Nokia, gave no explanation for the expected performance.